of H (complete) HW Score: 72.73%, 8 of 11 27.11-BE Question Help Unl recently, h
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of H (complete) HW Score: 72.73%, 8 of 11 27.11-BE Question Help Unl recently, hamburgers tanburger sales dropped 0 to an average of 12,000 per nght (a) Assuming a linear demand curve, tind the price of a hamburger that will maximize the nighty hamburger revenue by i the concessionaire had ftxed costs of $1,000 per night and the variable cost s 50.60 per hamburger, find the price of a hamburger that will maximize the nighty hamburger proft (a) Assuming a linear demand curve, ind the price ot a hamburger that will maxmize the nighty hamburger revenue. The hamburger price that will maximize the nighty hamburger revenue is at the city sports arena cost $3.10 each. The food concessionaire sold an average of 19,000 hamburgers on game night When the price was raised to $3.80, Round to the nearest cent as needed)Explanation / Answer
a)
Given two point are (19000,3.10) and (12000, 3.80), hence
p =5 -0.0001x
R=x*p =5x -0.0001x²
The function has maxima at x = 5/(2*0.0001) = 25000
hence
price =5 -0.0001*25000
=$ 2.50
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b)
P(x)=R(x)-C(x)
=(5x -0.0001x²) -(1000+0.60x)
hence maxima is at x= 22000
price =5 -0.0001*22000
=$2.80
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